Given the looming/ongoing precipitous drop in the value of the dollar, I’m strongly considering cashing in a large portion of my investments and paying off my mortgage.
I’m not sure if trading paper for real estate is even wise given what we are facing.
Thoughts?
If you have enough acreage for a sizable garden and maybe enough to support some livestock, and, it’s defensible from threats, it would probably make sense. I really think we’re going to look back in a couple of years and fondly reminisce about the great economy of 2011. The politicians can’t keep up the charade forever. It’s really starting to come apart now....
That is what I did. Well, not quite pay off the mortgage but I did pay off a substantial amount of debt. I now have a positive cash flow and I’m using that money to stock up on guns, food and looking to buy some farm land. If the dollar can hold for another 2 to 3 years, I should have a paid off, selfsustaining farm that I can go live on if things go bad.
I already have a 2.5 acre mountain bug out site if I need that. It is not quite a retreat yet. Still needs well, septic, wind/solar power, but me and my four could make it out there.
I’m strongly considering cashing in a large portion of my investments and paying off my mortgage.
If you have a fixed rate mortgage, pay it off with inflated easy-to-earn dollars.
Take your spare money and put them into things with tangible value (storage food, guns, ammo, gold, silver, farmland, etc.)
Depends on your mortgage I’d say. If you have a 4 or 5% fixed rate, I’d hang on to it.
What I and probably you SHOULD HAVE DONE is to borrow to the limit ten years ago and buy gold and silver. This is easily seen in hindsight. Looking forward there is no reason to believe that inflation will do anything other than worsen, this means that paying off a mortgage now is to give up money which still has some value now to avoid paying the same amount in worthless dollars later. Doesn’t sound so good, does it? The only way to hang onto real estate WTSHTF is to own the proper tools, the proper tools are made by companies such as Remington, Smith and Wesson, Glock, KelTec, Hornady, Ruger etc. buy tools and food and try to insure that you have a safe water supply, the first requirement of survival is good water. It is much easier to store a year’s supply of food than a year’s supply of water.